Executive, who led AIG through bailout package, battled lung cancer for five years

Robert Benmosche, who brought insurance giant American International Group Inc. back from the brink of bankruptcy and led it to repay its historic bailout, died Friday at age 70 after a five-year battle with lung cancer, the company said.

Known as one of the more colorful and outspoken executives on Wall Street, Mr. Benmosche came out of retirement in August 2009 to become AIG’s chief executive. At the time, the company was nearing its first anniversary as recipient of the biggest bailout of the financial crisis. Mr....